The Single Most Important Chart for Bitcoin Over the Next Year

DXY showing technical weakness coupled with a programmatic supply reduction of Bitcoin issuance may lead to an outsized price reaction for Bitcoin post-halving. Similar DXY moves from 100 to 90 after the previous two halvings provided a tailwind for significant multi-month bullish rallies. DXY is currently forming a high timeframe descending triangle, which holds a bearish bias. This chart pattern becomes invalidated with any higher high in the DXY at 103.50 but does not necessarily invalidate the possibility of a move to the historic range low of 90.